The greenback rises vs. the Yen and other currencies on the improved US economy

By @ibtimes on

The Japanese yen retreated today against the US dollar and other major counterparts with the beginning of the week, on speculations of increasing consumer spending following the improvements in the US economy, raising demand for the dollar over other currencies, after the world's largest economy released its 4th GDP that expanded more than expectations.

The euro started today's session with a slight incline against the dollar after opened week's trading with a gap, the pair trades around 1.4052 after recording the highest at 1.4068 and the lowest at 1.4027. The pair faces a support at 1.4000. The daily and four hours momentum indicators show the pair near of oversold area.

The pound traded in a narrow range against the greenback, trading around 1.6007 after recording the highest at 1.6018 and the lowest at 1.5998. The pair faces a support at 1.5960. The daily and four hours momentum indicators show the pair in an oversold area.

The dollar/yen pair rose during the Asian session, as the pair trades around the 80.78 level, recording the highest at 81.83 and the lowest at 81.50. The pair faces a support at 81.30. The daily and four hours momentum indicators show the pair near of the overbought area.

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